Tribunal Orders Return of Equipment; Usage Charges Dismissed Due to Lack of Rental Agreement; Appeal Partially Allowed.

The Tribunal directed the Respondent to hand over a motor grader to the Corporate Debtor, which was confirmed as completed. The order for the Respondent to pay usage charges of Rs. 48 lakhs was set aside, as there was no rental agreement to justify the charges. The resolution plan for the Corporate Debtor was approved by the Committee of Creditors and the NCLT, but the appellant's claim was not considered. The appeal was partially allowed by setting aside the order for payment of usage charges.

---

---

Issues Involved:
The issues involved in the judgment include directions issued by the Adjudicating Authority regarding handing over assets and payment of usage charges, compliance with the orders, resolution plan approval, claim filing, and the basis for claiming usage charges.

Handing Over of Assets:
The appeal was filed against the order directing the Respondent to hand over the asset of the Corporate Debtor, a motor grader, which was in the possession of the Respondent for the last 2 years. The Tribunal passed an order directing the appellant to hand over the machine within 15 days, which was subsequently confirmed that the machine had been handed over to the Corporate Debtor. The order impugned was passed in response to an application filed by the Resolution Professional regarding the handing over of the machine.

Payment of Usage Charges:
The Adjudicating Authority also directed the Respondent to deposit usage charges for the asset at Rs. 2 lakhs per month for 24 months, totaling Rs. 48 lakhs. However, it was found that there was no rental agreement between the parties for any usage charges, and the machine was given to the operational creditor in lieu of certain dues owed by the Corporate Debtor to the appellant. The appellant could not file its claim in the corporate insolvency resolution process, and hence, the dues did not find any reflection. The Tribunal found that the basis for claiming Rs. 2 lakhs per month as usage charges was not substantiated, and the order for payment of Rs. 48 lakhs was deemed unsustainable and set aside.

Resolution Plan Approval and Claim Filing:
The resolution plan of the Corporate Debtor was approved by the Committee of Creditors and the NCLT. The appellant could file its claim after the approval of the plan with the Committee of Creditors, but it was not considered in this case. The appeal primarily focused on the directions issued regarding the asset handover and payment of usage charges, with the Tribunal partially allowing the appeal by setting aside the order for payment of Rs. 48 lakhs as usage charges.

---